Director, Model Risk

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Hours:

Line of Business:

Pay Details:

Were committed to providing fair and equitable compensation to all our colleagues. As a candidate we encourage you to have an open dialogue with a member of our HR Team and ask compensation related questions including pay details for this role.

Job Description:

Job Title: Director Model Risk

Job Level: Director L11

Job Type: Regulated (CF-2)

Material Risk Taker: Yes

Business/Product Group:Risk Management TDGF

Location: Dublin Ireland

Committee Membership:TDGF Executive Risk Committee (voting member)

Reports to: Chief Risk Officer TDGF

Direct Reports:N/A

Position Summary: (Overview of key purpose and accountability of the role)

The role will support the TDGF CRO in the establishment of the model risk function in TDGF working in close collaboration with the TD Bank Group (TDBG) Model Risk Management function.

The role will be responsible for independent oversight of the identification and assessment measurement control monitoring and reporting of model risk for TDGF confirming compliance with regulatory requirements and internal frameworks and policies.

Specific Responsibilities:

• Support the TDGF CRO in all matters relating to second line oversight and challenge of model risk for TDGF.
• Responsible for implementing the TDGF Model Risk Management Framework which is aligned with the TDBG Model Risk Management Framework.
• Responsible for confirming that TDBG Model Risk Management policies and procedures are appropriate for TDGF and/or for developing local policies and procedures as required.
• Responsible for maintaining the inventory of models applicable to TDGF and for verifying that all appliable models have been identified and registered in the model inventory.
• Responsible for reviewing the group model risk rating methodology for appropriateness for adoption by TDGF.
• Responsible for establishing a Local Suitability Assessment (LSA) process under which all group models leveraged by TDGF will be assessed and responsible for completion of the LSAs
• Responsible for model validations for TDGF-specific models.

• Responsible for TDGF model risk Key Risk Indicator (KRI) dashboard reporting reviewing breaches of KRIs and confirming any breaches are escalated and actioned appropriately.
• Provide analysis and interpretation and consolidation of model risk reporting to the TDGF CRO for onward reporting to TDGF committees and the TDGF Board.

• Voting member of the TDGF Executive Risk Committee.
• Support the TDGF CRO in establishing a TDGF Model Risk Forum.
• Propose activities for inclusion in the annual TDGF Risk Assurance Plan.
• Responsible for oversight of outsourced second line Model Risk Management activities in accordance with the TDGF Outsourcing Policy
• Monitor TDGF regulatory requirements with regard to model risk communicating any relevant changes or potential compliance gaps to senior management.
• Support senior management in regulatory engagement queries and remediation activities.
• Communicate and escalate all matters relating to material risk in a timely accurate and forthright manner and within established governance frameworks
• Ad hoc projects and initiatives as required.

Skills and Experience:

• Ability to provide effective challenge to regional senior management and business heads as appropriate
• Ability to explain risk issues to diverse stakeholders
• Strong knowledge of ECB/SSM supervisory frameworks Central Bank of Ireland regulation and regulatory requirements for model risk EBA and EU financial services legislation.
• Strong industry knowledge and awareness (including regional practices in wholesale banking).
• Extensive communication and stakeholder management skills with demonstrated ability to engage effectively with Boards senior executives and regulators.
• Demonstrated ability to maintain independence execute and advise with integrity and an ability for sound balanced judgement.
• Professional Business Accounting or Risk qualification at university level preferred.

• Management Responsibilities:

• Responsible for identifying and reporting Operational Risk Events in accordance with policy.
• Responsible along with all colleagues to contribute in a positive way to TDGFs reputation and the management of Reputational Risk. Every employee is expected and required to follow ethical practices at all times including compliance with applicable policies legislation and regulations and support positive interactions with TDGFs stakeholders including clients industry bodies industry participants public bodies regulators and vendors.
• Responsible for good conduct and for contributing to the identification and management of Conduct Risk within their team and function.

Regulatory Requirements: (CF role holders)

The role holder must observe proper standards of market conduct. It is the role holders responsibility to demonstrate that the role holder takes reasonable steps to be fully aware of understand and comply with all regulatory requirements from all regulatory bodies that are applicable to the role holders business. You will promptly report to your supervisor(s) or manager(s) any instances in which you are aware of any violation or possible violation of such regulatory requirements by yourself or others.

In particular as a Controlled Function for the purposes of the CBIs Fitness and Probity Regime (F&P) you must be aware of and comply with your obligations under the regime.

The F&P Standards require that a person must be:

• Competent and capable;
• Act honestly ethically and with integrity; and
• Be financially sound.

Central Bank of Ireland Conduct Standards

In addition to the responsibilities set out in this job description as well as TDs own policies and procedures (see below) the role holder is required to comply at all times with the CBI Conduct Standards. The following Conduct Standards apply to the role holder:

Common Conduct Standards:

• Acting with Honesty and Integrity.
• Acting with Due Care and Diligence.
• Co-operating in Good Faith and Without Delay.
• Acting in the Best Interests of Customers and Treating Them Fairly andProfessionally.
• Operating in Compliance with Standards of Market Conduct and Trading VenueRules.

TD Policy Requirements

It is the role holders responsibility to demonstrate that they are fully aware of and adhere to internal TD Policies that relate to the role holder the business or function for which the role holder has responsibility or other businesses or functions for which the role holder has any level of responsibility.

It is the role holders responsibility to read understand and comply with TDs Code of Conduct and Ethics (Code) and corresponding regulations. The Code establishes the standards that govern the way we deal with each other our customers shareholders governments regulators suppliers competitors the media and the public at large. The role holder will be notified of changes to policies in a timely manner through announcements and/or intranet updates.

The role holder must act with integrity and due skill care and diligence in carrying out their duties. Actions should always be able to satisfy high standards of scrutiny.

Management should be kept fully informed at all times of all Regulatory and Compliance issues. The role holder must deal with TD Management Compliance regulators and all control functions in an open and cooperative way and must disclose appropriately any information which TD Management Compliance regulators or control functions would reasonably expect to know.

The role holder must ensure that they are fully aware of their management reporting lines and escalation procedures.

If the role holder isa Manager/Supervisor the role holder is also responsible for ongoing and effective supervision of the employees under their direction and ensure their adherence to regulatory requirements. The role holder will promptly report to TD Management and Compliance any violation or possible violation of such regulatory requirements identified as part of their supervisory responsibilities.

The role holder must take reasonable steps to demonstrate that the business of the firm for which they are responsible is organized so that it can be controlled effectively and that they exercise due skill care and diligence in managing that business.

It is the role holders responsibility to be fully aware of:

• The scope of their management responsibilities.
• The scope and nature of their role and responsibilities as a Senior Executive for the purposes of the CBI Senior Executive Accountability Regime.
• The TD Policies and regulatory requirements pertaining to the business/activities they are managing.
• The competence level of the staff reporting to the role holder.
• The control limits and the role holders ability if any to delegate them within their business or function.
• The requirements to demonstrate that the role holder receives adequate and appropriate management reporting.

Who We Are

TD is one of the worlds leading global financial institutions and is the fifth largest bank in North America by branches/stores. Every day we strive to make every interaction product and experience remarkably human and refreshingly simple for over 27 million households and businesses in Canada the United States and around the world. More than 95000 TD colleagues bring their skills talent and creativity to foster deeper relationships ensure disciplined execution and build a simpler faster banking experience. TD is deeply committed to being a leader in client experience that is why we believe that all colleagues no matter where they work are client facing. Together we are reimagining what banking can be for our clients colleagues and communities.

Our Total Rewards Package
Our Total Rewards package reflects the investment we make in our colleagues to help them and their families achieve their well-being goals. Total Rewards at TD includes a base salary and several other key plans such as health and well-being benefits including medical coverage paid time off career development and reward and recognition programs.

Additional Information:
Were delighted that youre considering building a career with TD. Through regular development conversations training programs and a competitive benefits plan were committed to providing the support our colleagues need to thrive both at work and at home.

Colleague Development

If youre interested in a specific career path or are looking to build certain skills we want to help you succeed. Youll have regular career development and performance conversations with your manager as well as access to an online learning platform and a variety of mentoring programs to help you unlock future opportunities.

If youre passionate about helping clients and building deep lasting relationships TD offers diverse career paths where you can grow your expertise and make a meaningful impact.

Were committed to your success and foster a respectful workplace where diverse perspectives are valued everyone has fair opportunities to grow and you can unlock your full potential to achieve your career goals. Here at TD we hire and develop the best.

Training & Onboarding
We will provide training and onboarding sessions to ensure that youve got everything you need to succeed in your new role.

Interview Process
Well reach out to candidates of interest to schedule an interview. We do our best to communicate outcomes to all applicants by email or phone call.

Accommodation

If you require an accommodation for the recruitment / interview process (including alternate formats of materials or accessible meeting rooms or other accommodation) please let us know and we will work with you to meet your needs.